EQNR · Equinor ASA

Equinor ASA announced the second tranche of its 2026 share buy-back programme, with a total value of up to USD 375 million, of which USD 123.8 million will be used for open market purchases. The programme is part of a larger USD 1.5 billion buy-back authorization for 2026, first announced on 4 February 2026. The second tranche is contingent on shareholder approval at the annual general meeting on 12 May 2026, including renewal of the board's authority to repurchase up to 78 million shares at prices between NOK 50 and NOK 1,000 per share. Additionally, an agreement with the Norwegian State is required, under which the State will redeem a proportionate number of its shares to maintain its 67% ownership stake, at a price equal to the volume-weighted average market price plus interest compensation, adjusted for dividends. Shares purchased in the market will be cancelled at the May 2027 AGM. The buy-back will be executed on the Oslo Stock Exchange and other EEA venues under safe harbour rules, with a non-discretionary third-party agent. This tranche is expected to end no later than 20 July 2026. Subsequent tranches will be decided quarterly by the board, subject to market conditions and balance sheet strength.